Stocks correct after 4-day rallies

Stocks correct after 4-day rallies By Phuong Thao HCMC – Stocks encountered a slight correction after a four-day rising streak today, August 1, though trade remained active. With 126 stocks rising and 169 others sliding, the VN-Index of the Hochiminh Stock Exchange fell 3.62 points, or 0.38%, at 952.77. There were 202 million shares worth VND4.4 trillion changing hands on the southern bourse, down 16.6% and 4.8% against the previous day, respectively. Most large caps stayed almost flat. Having jumped sharply on Tuesday, lender TCB dropped 0.9% at VND27,550 per share with matching volume of two million shares. CTG was the volume leader in the banking sector with 4.1 million shares traded but it dipped nearly 1.7% at VND23,200 per share. VHM, a housing developer, made the most negative contribution to the main index as it lost 1.5% at VND108,600 a share. Among small stocks, property firm HQC and industrial zone operator ITA went up to their daily limits with matching volume of 10.7 million shares and three million shares, respectively. Realty firm FLC, meanwhile, declined 2.9% at VND6,350 per share and led the market by liquidity with 22.2 million shares traded. HAG, another real estate enterprise, tumbled to near its lower limit, closing at VND7,100 a share. It was the second most heavily traded stock on the exchange with 12.6 million shares transacted. The HNX-Index of the Hanoi Stock Exchange slid for the second straight session, edging down 0.56% at 105.56 points. Trading on the market sharply improved as… [Read full story]